Glenn Dubin Sells 1010 Fifth Sprawl to Next Glenn Dubin for $13.75 M.

Legendary moneyman Glenn Dubin is known for spinning gold even when others are becoming spinsters—among his many achievements is turning a 65 percent return the year of the 1987 market crash. Yet it appears even a lion like Mr. Dubin is not immune to the vagaries of a real estate bubble. Having purchased Jackie O.’s old 1040 Fifth spread for $30 million in 2006 from David Koch, Mr. Dubin and his wife Eva listed their duplex co-op at 1010 Fifth Avenue for $18.5 million in November 2009.

The duplex, which looks down on the Met, just sold for $13.75 million to another budding banker, Alexander Klabin, who runs Senator Investment Group. According to an article in Absolute Return + Alpha, the fund is having Dubin-esque success, “thriving at a time when most new funds are finding it difficult to raise funds.” The firm has won seed money from the Blackstone Group and manages more than $2 billion in funds. How long before he serves atop the Robin Hood Foundation, or some other prestigious New York charity, as Mr. Dubin once did?

Mr. Klabin bought the six-bedroom, five-and-a-half bath home that the Dubinz assembled over a number of decades with his wife Kristin, a former middle school teacher. The 12-room whopper is a beaut, as Corcoran star Deborah Grubman makes clear in her listing: “Excellent condition – Central Park Views – West and South facing views from major rooms – Full Service, White Glove Building.” Carter Horseley puts things a little more grandiloquently in his description of the 1928 Fred F. French building: “With its handsome Italian Renaissance-style detailing, sidewalk landscaping and attractive sidestreet entrance, 1010 Fifth Avenue is one of the classic elegant addresses in the city.”

The Klabins are leaving behind a decidely different home as they depart the glassy, four-year-old condo tower at 255 East 74th Street.